ARLINGTON, TEXAS — Global investment manager Realterm has acquired a 186,344-square-foot distribution center in Arlington that is leased to Amazon on a triple-net basis. The facility was originally built on 15.5 acres in 1987 and was upgraded in 2020 to support last-mile distribution. Building features now include 29-foot clear heights, 10 dock-high doors and 338 van parking spaces. John Huguenard, Dustin Volz, Trent Agnew, Stephen Bailey, Dom Espinosa, Zach Riebe and Megan Babovec of JLL represented the seller, Oxford Properties, in the transaction.
FAIRFIELD, N.J. — Custom metal products provider Showman Fabricators has signed a 78,000-square-foot industrial lease at 15 Law Drive in the Northern New Jersey community of Fairfield. The newly renovated facility features a clear height of 18 feet and four loading docks. Chuck Fern, Thomas Tucci, Torsten Thaler and Natalie Gorga of Cushman & Wakefield represented both Showman Fabricators and the landlord, The STRO Cos., in the lease negotiations.
SUGAR LAND, TEXAS — JLL has negotiated the sale of Imperial Self Storage, a 791-unit facility located in the southwestern Houston suburb of Sugar Land. Operated by CubeSmart, the property features 94,220 net rentable square feet of climate-controlled space. Steve Mellon and Brian Somoza of JLL represented the seller, SurePoint Self Storage, in the transaction. OB Cos./My Place Self Storage, an investment firm launched by Simply Self Storage founder and former CEO Kurt O’Brien, purchased the facility for an undisclosed price.
IRVING, TEXAS — Archway Properties, a developer with offices in Houston and Dallas, will build Royal 114, a 429,027-square-foot industrial project in Irving. Royal 114 will consist of four rear-load buildings that will range in size from 46,261 to 155,050 square feet and will feature 28- to 32-foot clear heights. Pross Design Group is the project architect, and Peinado Construction is the general contractor. Transwestern will lease the property. Construction is set to begin later this summer and to be complete in the first quarter of 2023.
MUSSEY TOWNSHIP, MICH. — Axiom Engineered Systems has signed a lease for a 123,000-square-foot flex industrial building at 14898 Koehn Road in Mussey Township, about 55 miles north of Detroit. The location will serve as the company’s first in the U.S. The automotive company was founded in Canada in 1987. Matthew Buslepp, Jacob Zammit and Jim Becker of Avison Young represented the tenant. Lee & Associates represented the landlord, an entity doing business as 14898 Koehler Capac LLC.
CHICAGO — Timber Hill Group has sold a 3.5-acre outdoor storage and fleet parking property at 4626 W. 42nd St. in Chicago for an undisclosed price. Zenith IOS purchased the property, which is zoned for truck parking and is located near the Cicero Avenue and I-55 interchange. Timber Hill acquired the site in 2017 and added a perimeter fence, gate system and lighting. Brian Vanosky and Tim McCahill of Lee & Associates represented the buyer. Timber Hill is a Chicago-based private equity firm specializing in the acquisition and development of logistics real estate.
MERIDIAN, IDAHO — Alder Industrial and its institutional partner have completed the disposition of a warehouse/distribution facility situated on 30.3 acres at 2316 W. Franklin Road in Meridian. Completed in early 2022, a Fortune 10 global e-commerce company leases the 141,360-square-foot building. Designed as a last-mile delivery station with top-shelf functionality, the Class A property features 33-foot clear heights, 9.7 percent office space, 15 dock doors and six drive-in doors, 50-foot by 50-foot column spacing with speed bays, 228-foot building depth, 208-foot truck court and an abundance of car, van and trailer parking. Will Strong, Jeff Chiate, Kirk Kuller, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the transaction.
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MDH Partners Sells 58-Property Sunbelt Logistics Portfolio Located Across 10 States for $1.3B
ATLANTA — MDH Partners has sold its 58-property Sunbelt Logistics Portfolio to an undisclosed global institutional investor for $1.3 billion. MDH will retain an ownership stake in the portfolio and will continue to operate the properties. The portfolio spans 9.7 million square feet of industrial space across 10 states, including 11 properties in Georgia; 10 properties in Florida; eight properties in Texas; seven properties each in Arizona and Missouri; four properties each in Tennessee and North Carolina; two properties each in South Carolina and Virginia; and one property in Kentucky. The final two properties include nearly 675,000 square feet of newly constructed buildings in Nashville and Charlotte that were constructed with CarbonCure, a technology for the concrete industry that introduces recycled carbon dioxide into fresh concrete to reduce its carbon footprint. The portfolio consists of modern, state-of-the-art industrial and bulk distribution properties with an average size of 169,000 square feet. The properties feature average clear heights of 30 feet with 130-foot truck courts. The portfolio was 97 percent occupied at the time of sale by more than 100 regional, national and international tenants with an average remaining lease term of 5.7 years. “This diversified portfolio provides immediate scale and operating …
CHARLOTTE, N.C. — CBRE has brokered the $37 million sale of Cordage, a Class A warehouse and distribution center located at 11540 Cordage St. in Charlotte’s Arrowood district. Boston-based TA Realty purchased the 212,000-square-foot property from local developer Childress Klein. Patrick Gildea, Matt Smith, Anne Johnson, Bryan Crutcher, Grayson Hawkins, Robert Hardaway, Frank Fallon and Trey Barry of CBRE represented the seller in the transaction. Built in 2020, Cordage features 15,519 square feet of office space, 30-foot clear heights, an ESFR sprinkler system, LED lights, 56 dock doors (including six drive-in doors) and 50- by 50-foot column spacing with a 60-foot speed bay. The property also includes a 130-foot truck court with a 60-foot concrete apron and 223 parking spaces. Cordage was fully leased to eight tenants at the time of sale.
IRVING, TEXAS — JLL has arranged the sale of DFW Park 161, a 1 million-square-foot industrial development in Irving. The property comprises three buildings on a 91-acre site just east of Dallas-Fort Worth International Airport. Building features include 32- to 36-foot clear heights, 227 dock-high doors, eight drive-in doors, low office finishes, ESFR fire protection, LED lighting and ample trailer and vehicle parking spaces. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Jack Copher of JLL represented the seller, a partnership between Invesco Real Estate and Perot Development Co., in the transaction. Global institutional investment firm BentallGreenOak purchased DFW Park 161, which was fully leased at the time of sale, for an undisclosed price.